In the Case of Sovereigns, Should Official Sector Debts be Subordinated to Private Sector Debts? Kunibert Raffer

The recovery process of the Euro crisis highlights the problem of official lenders like the IMF enforcing preference for their own loans, which is economically dangerous.

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(This short article was first published in the July/August edition of International Financial Law Review [] and is reproduced with this Journal’s kind permission. The copyright of this article is reserved by IFLR)